ProFrac Holding Corp. (NASDAQ:ACDC) Major Shareholder Acquires $212,634.96 in Stock

ProFrac Holding Corp. (NASDAQ:ACDC) major shareholder Holdings Lp Thrc bought 31,784 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average cost of $6.69 per share, with a total value of $212,634.96. Following the completion of the transaction, the insider now owns 77,335,795 shares in the company, valued at $517,376,468.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Holdings Lp Thrc also recently made the following trade(s):

• On Tuesday, August 20th, Holdings Lp Thrc bought 46,999 shares of ProFrac stock. The shares were bought at an average cost of $6.48 per share, with a total value of $304,553.52.
• On Thursday, August 15th, Holdings Lp Thrc purchased 130,000 shares of ProFrac stock. The shares were acquired at an average price of $6.49 per share, with a total value of $843,700.00.
• On Tuesday, August 13th, Holdings Lp Thrc purchased 411,383 shares of ProFrac stock. The shares were acquired at an average price of $6.03 per share, with a total value of $2,480,639.49.

ProFrac Stock Up 0.9 %

Shares of ACDC traded up $0.06 during trading hours on Thursday, reaching $6.77. The stock had a trading volume of 541,685 shares, compared to its average volume of 915,846. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -7.32 and a beta of 0.85. The firm has a 50-day simple moving average of $7.32 and a 200 day simple moving average of $7.89. The company has a current ratio of 1.01, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85. ProFrac Holding Corp. has a 12 month low of $5.59 and a 12 month high of $11.94.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new stake in shares of ProFrac during the second quarter worth about $365,000. Squarepoint Ops LLC bought a new position in ProFrac in the 2nd quarter valued at about $150,000. Marshall Wace LLP lifted its position in ProFrac by 1,632.1% in the 2nd quarter. Marshall Wace LLP now owns 242,491 shares of the company’s stock valued at $1,797,000 after acquiring an additional 228,491 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in ProFrac by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 89,071 shares of the company’s stock valued at $660,000 after acquiring an additional 5,312 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in ProFrac by 72.0% in the 2nd quarter. American Century Companies Inc. now owns 315,689 shares of the company’s stock valued at $2,339,000 after acquiring an additional 132,108 shares in the last quarter. 12.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Piper Sandler decreased their price target on ProFrac from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Stifel Nicolaus decreased their price target on ProFrac from $10.00 to $7.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Bank of America decreased their price target on ProFrac from $9.50 to $8.50 and set a “neutral” rating for the company in a report on Monday, July 15th.

ProFrac Company Profile

ProFrac Holding Corp. operates as a technology-focused energy services holding company in the United States. It operates through three segments: Stimulation Services, Manufacturing, and Proppant Production. The company offers hydraulic fracturing, well stimulation, in-basin frac sand, and other completion services and complementary products and services to upstream oil and natural gas companies engaged in the exploration and production of unconventional oil and natural gas resources.